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Pudgy Penguins’ $PENGU Airdrop: A Hit or Miss on Day 1?
The Pudgy Penguins’ highly anticipated $PENGU airdrop finally went live yesterday, and it seems that the results have been mixed. On one hand, some traders reportedly suffered significant losses due to the rapid fluctuations in the value of $PENGU tokens, with a notable instance being a whale who purchased 138.92 million $PENGUs at an average price of $0.041 and deposited them into Binance, only to see their value plummet by nearly $1.55 million.
On the other hand, it’s undeniable that the project has made significant strides in building a crypto ecosystem, with many praising CEO Luca Netz for not gatekeeping the airdrop and allowing holders of Pudgy Penguins, Lil Pudgys, Rogs, and Soulbound Tokens (SBTs) to participate. This inclusive approach saw a massive influx of claimers, with 745,200 addresses applying for the $PENGU airdrop tokens, which translates to 37.7% of the total airdrop tokens.
In terms of numbers, FlipsideCrypto data reveals that a staggering 15.3 billion $PENGUs have already been claimed, with 25.2 billion remaining unclaimed. Notably, each eligible address can apply for an average of 20,500 $PENGUs. At the time of writing, $PENGU has a market capitalization exceeding $1.9 billion and a 24-hour trading volume surpassing $2.1 billion.
While some may view these early results as mixed, it’s hard to deny that Pudgy Penguins has made a significant impact in terms of onboarding masses into their ecosystem. With the airdrop still live for another 87 days, it will be interesting to see how this plays out in the coming weeks.
Source: www.cryptonewsz.com
